The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pine View Portfolio Consultants Pvt Ltd
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Pine View Portfolio Consultants Pvt Ltd, a non-promoter entity, acquired 20 lakh equity shares (15.93% stake) in Adishakti Loha and Ispat Ltd (now Afloat Enterprises Ltd) on August 4, 2025, through conversion of warrants into equity shares. The acquirer did not belong to the promoter or promoter group. As a result of this conversion, the company's total equity share capital expanded sharply from 45.58 lakh shares (₹4.56 crore) to 1.25 crore shares (₹12.56 crore) — nearly tripling the share count. The newly issued shares rank pari-passu with existing equity shares. The disclosure was filed under SEBI SAST Regulation 29(1), which mandates reporting when an acquirer's holding crosses the 5% threshold.
This conversion caused significant equity dilution for existing shareholders (share count nearly tripled) while bringing in a new non-promoter investor holding 15.93%. At just above the 15% mark, Pine View's future share purchases will be restricted under SAST creeping acquisition rules, and any move past 25% would trigger a mandatory open offer to all shareholders.